The present invention is directed to a method and apparatus for trimming plastic bottles, particularly the neck portions thereof, without generating undesirable chips, slivers or other undesirable waste fragments. Prior art machines for cutting the extended or waste portion of plastic bottles have had significant problems. These problems have included a lack of consistent cutting which causes inconsistent cuts, under cuts, slivers as well as tails and other extended portions of plastic not fully removed from the neck finish of the bottle. Additionally, it is desirable that the newly cut surface forming the finish portion of the bottle (i.e. the upper surface of the neck which is engaged by the top panel of a closure applied thereto) be smooth, flat and lie in a plane perpendicular to the axis of the neck.